The World Bank will provide Ukraine with $109 million for housing reconstruction and energy sector support projects
Kyiv • UNN
The World Bank will provide Ukraine with more than $100 million in grants to repair housing damaged by Russian shelling and restore energy services, including district heating in Kharkiv.
Against the backdrop of massive Russian strikes, the World Bank will provide Ukraine with more than $100 million to implement housing reconstruction projects and support the energy sector. This was reported by UNN with reference to the Ministry of Finance of Ukraine.
Details
The agreement on grant funding was signed by the Minister of Finance of Ukraine Sergii Marchenko and the World Bank's Country Director for Ukraine, Moldova and Belarus Arup Banerjee.
In particular, the document provides for additional grant funding of $62 million under the HOPE project, which will be used for small and medium-sized repairs of residential buildings partially damaged by Russia's armed aggression.
The HOPE project is aimed at addressing the urgent and critical needs for the repair of partially damaged individual and multi-apartment residential buildings in the territorial communities controlled by the Government of Ukraine.
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The other agreement provides for a $47 million grant under the Re-PoWER project, which aims to restore basic services in Ukraine's energy sector. The funds will be used to provide Kharkiv residents with district heating services, namely the procurement and installation of heating equipment.
Funds from international donors continue to be a key source of financing for social and humanitarian expenditures, as well as for the restoration and reconstruction of critical infrastructure. We are grateful to the World Bank team and partners for implementing projects aimed at providing our citizens with the necessary services in a timely manner, as well as eliminating the consequences of Russian armed terror
Addendum
The Ministry of Finance explained that the grants will be provided through the Ukraine Recovery, Rehabilitation and Transformation Trust Fund (URTF), which was established by the World Bank to support Ukraine.
The World Bank, through the URTF, has mobilized donor financial resources to support Ukraine totaling about $1.8 billion, of which Ukraine has already received $1.1 billion in grants to support critical health care, housing and transportation infrastructure, support for agricultural producers, and to increase the administrative capacity of the Government.
Recall
The Council of Europe Development Bank will provide Ukraine with a loan of 100 million euros for the program "NOME. Compensation for destroyed housing" aimed at supporting citizens affected by the full-scale war.
